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There are multiple criteria which must be met in order to qualify for access to the Patent Box. It can only be accessed by companies that are headquartered in the UK and where the main research and development nexus is also within the UK.

If your business qualifies, you could benefit from a significant discount on corporation tax in relation to the profits derived from the patented invention. What is more, if your patented technology only contributes to one small element of a wider product, you may qualify for the tax exemption on the value of the product as a whole. In this respect, the Patent Box can be a very generous benefit and which makes it popular for innovative companies looking to manage their tax exposure in the UK.

 

Patent Box - the Keltie difference

Our attorneys have witnessed first hand how the Patent Box system successfully stimulates innovation. In spite of this , many innovative British businesses are not using it. Whilst awareness of similar initiatives such as R&D tax Credits is high, awareness of the Patent Box is still relatively low - as of 2021 it is estimated that a majority of companies involved in innovating in the UK are not accessing the scheme.

 

Keltie offers comprehensive audits of your technology and technology processes, to help determine whether or not you are generating the kind of innovations that might enable you to qualify for the Patent Box.

 

This where we add value - by getting involved in the earliest stages of planning and developing an innovation, we can help access and unlock the benefits of the scheme. Our experienced attorneys will advise on whether Patent Box considerations should be built into your intellectual property strategy and portfolio, so you can capitalise on the value of your innovations.

 

Contact our skilled patent attorneys today to find out whether your innovation could enable you can start enjoying the benefits of the Patent Box.

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